Acting as receiver for a defunct bank that was duped into giving loans for condo conversions to borrowers who lied about having equity in the real estate, the Federal Deposit Insurance Corp. sued an appraisal company and Chicago Title Insurance Co. for their roles in allegedly facilitating the scheme. The appraisal company settled for $500,000. And when jurors returned a verdict of $1.45 million against Chicago Title, the judge ruled it was entitled to a $500,000 setoff. Reversing, the 7th U.S. Circuit Court of Appeals …